Wellington MarketView Q3 2018

Capital value growth was 6.8% on average for the past two quarters, with growth being driven from the Prime Office and Industrial markets. It is expected that there will be further growth in 2018 and into 2019.

In the first half of 2018, transaction volumes totalled $426 million in the $5+ million asset value bracket

Elevated investment levels are expected to continue from both domestic and international sources

Development of new stock is expected to increase as a result of the supply and demand imbalance currently present

The Government continues to be particularly active with a current shortage of office space due to demolished space in 2016 and an ongoing expansion of the public sector